MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here for long-term loans, the differences may be pronunced Use this Monthly Payments for Short Term Loans Rule of Thumb is estimate the monthly payment on loan of 16000 borrowed over a three-year period (Hound your awwe in the nearest cont.) The monthly payment is at least MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here for long-term loans, the differences may be pronunced Use this Monthly Payments for Short Term Loans Rule of Thumb is estimate the monthly payment on loan of 16000 borrowed over a three-year period (Hound your awwe in the nearest cont.) The monthly payment is at least